OpenAI: Token Costs Drop 50% Quarterly

OpenAI and Anthropic face flat token spend as costs drop 50% every quarter, requiring consumption to double just to hold revenue steady, yet actual end-user demand has not kept pace over the past three months. Real customers shift to cheaper models faster than volume grows, exposing the gap between reported gains and underlying economics. This dynamic highlights the AI industry impact on hyperscaler burn rates and circular financing that props up short-term optics.